Lyxor has started a 'product enhancement' programme of its ETF range, which includes re-wrapping some of its offerings as SICAVs, moving products from synthetic to physical replication, and streamlining the fund range.
The firm said it plans to move all of its products currently operating as an FCP (Fonds Commun de Placement) structure to a Luxembourg or France-domiciled SICAV structure, with the first batch transferred on 7 September 2017 and the rest expected to move in the near future. The firm said the SICAV structure would be far simpler for investor from a tax and accounting perspective, while it will also meet the increasingly "stringent" requirements of the wealth management sector. Adam Laird, head of ETF strategy, Northern Europe, added: "Luxembourg is a very simple domicile for many funds...
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